IN Partnership forecasts mass amalgamation of smaller networks and says it is seeking a merger itself by the end of this year.The network, which has 500 registered individuals and over 200 firms as appointed representatives, says smaller networks cannot remain profit- able if they do not improve economies of scale. Chief executive Kevin McDonagh says two reasons for IN Partnership seeking amalgamation are a depolarised industry and increasing regulatory costs. McDonagh is predicting more mergers along the lines of IFA Consortium, the group which earlier this year brought together Falcon, pi Financial and Financial Synergies. He says: “We are looking at merging generally as I think this is the way that the indus-try is heading overall. We are hearing of more and more consolidation of the smaller networks. I think it makes a lot of sense.” Hanson Financial Management director Nicholas Hanson says: “Consolidation is a key word for IFA practices as well as networks. “With increasing regula-tory costs, practices are starting to come together, networks and IFAs. As long as the control over the service is good, which is more of a prerequisite than ever, people joining is a good thing.”
Like the rest of the world, I watched in horror as news of the London bombings unfolded on July 7.
The F&C Stewardship funds, the group’s range of ethical portfolios, have passed through the 2bn mark.
The funds, the first of which was launched 21 years ago by Friends Provident, are the UK’s oldest and largest ethical investment suite of products.
The Government is keeping IFAs waiting for vital information designed to help them prepare for A-Day because of “publishing difficulties”. Revenue & Customs has failed to publish its Registered Pension Schemes Manual, the document that will contain detailed tax and technical information on pensions for firms and consumers, by its end of July deadline. Revenue […]
Tax-free cash lump sums should not be the automatic choice of workers in final-salary schemes, says Standard Life’s John Lawson. Scheme members risk slashing their pension income because commutation rates, which determine how much cash they get for each pound of pension given up, have not moved to reflect falling annuity rates. The problem is […]
Ali Unwin, CTO & Fund Manager, Neptune 2016 was a weak year for technology IPOs – only 13 US venture-backed tech IPOs hit the market, in spite of fairly high public market valuations and investor appetite. Will 2017 be different, asks Neptune CTO & Fund manager Ali Unwin. Click here for article Important Information Investment risks Neptune […]
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Scotland has introduced a new set of income tax bands, but pensions experts warn that the changes could cause issues with pension tax relief calculations. In the Scottish Budget today, the Government announced a new starter rate of 19p and then a 21p rate for those earning over £24,000. The higher rate of tax is […]
The scramble to do as many defined benefit transfers as possible while values remain high is unabated, and I am constantly amazed at how some firms have thrown caution to the wind in the hunt for their share of this – admittedly lucrative – opportunity. The problem is that advisers are putting their profits before […]
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